Monday, October 23, 2006

Manday Wraps Cheese

Awful day - I took a play in AMR and watched it go from my buy point .06 to .80 and then I had to leave for awhile. I didn't bother to stop it because the market was booming at the time - by the time I got back I had lost 30 cents on the share. Straight up - straight down - just like many others today and for absolutely no discernable reason except traders bought and traders sold. I'm so pissed I'm going to take a couple of days off just to get over it.

Tomorrow more of this crap market continues. Up/down ratio sits at 46% or neutral, VIX is more than 5% below 10 day MA which is bordering on who cares - there were 724 new 20 day highs and 222 new 20 day lows. Again much ado about nothing. Both the DIA and the SPY finished the last hour in the red but the Q's were white. Eventually we have to go down - it just is - I'm seriously thinking about staying on the sidelines until that happens.

I won't - but I'm thinking about it.

The magic coin, and this is getting boring, got another one right for 22 and 10 - and for tomorrow - heads - bull market coming once more. Who am I to disagree.

No comments: